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Deduction u/s 80D - Deduction in respect of Medical Insurance Premia

Income Tax - Exemptions and Deductions - 10 - SECTION 80D Provisions of Section 80D for AY 2015-16 Eligibility Insurance premium paid for the health of the assessee or his family Individual / HUF are eligible Amount of Deduction: Deduction in the case of individual Deduction in the case of HUF For whose benefit payment can be made Family Parents Any member Medi-claim insurance premium Eligible Eligible Eligible Contribution to CGHS/notified scheme Eligible - Preventive health check-up payment El .....

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ent < 60 years**) = ₹ 50,000 Thus in individual can claim total deduction of ₹ 25,000 (family < 60 years*) + 30,000 (parent > 60 years**) = ₹ 55,000 Thus in individual can claim total deduction of ₹ 30,000 (family > 60 years*) + 30,000 (parent > 60 years**) = ₹ 60,000 * member of the family, ** either of the parent Notes: Family includes individual, spouse of the individual and dependent children of the individual Parents include father and mother (de .....

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